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HomeAfricaIMF, WB and AfDB at the bedside of Togo's ailing economy

IMF, WB and AfDB at the bedside of Togo’s ailing economy

Officials of the Internationa l Monetary Fund, World Bank and African Development Bank (AfDB) have arrived in Togo to discuss economic reforms with the authorities, official sources in Lomé said on Friday November 30th.

The development of the cotton sector, public debt and restructuring of the banking sector would feature on the mission’s 12-day agenda, the sources said.

They would have several technical meetings with the country’s financial and economic officials before initiating discussions on a three-year programme of macroeconomic policies and structural reforms.

Togo, which has not benefited from the assistance of the Bretton Woods institutions for several years because of political reasons, is re-establishing ties with donors.

In November 2004, the World Bank and the United Nations Development Programme (UNDP) made cooperation with the West African state contingent on improvement of economic and political governance.

Togo in October held parliamentary elections to complete a return to democratic rule, following the death of its long-time military dictator Gnassingbe Eyadema in 2005. He was succeeded by his son, Faure Gnassingbe, who won disputed elections in that year.

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